euro adhoc: EIC Electricity SA
Distribution of EIC Energy Utility Fund shares to shareholders of EIC Electricity SA will occur on June 20, 2003 (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
The investment company EIC Electricity SA informs, that it will execute the capital reduction as decided by its General Assembly earlier this year on Friday, June 20. Each shareholder will receive 1.303 shares in the newly founded EIC Energy Utility Fund. On June 12, the net asset value of the fund was CHF 39.78 per share. The total reduction in nominal value amounts to CHF 79 million. The reduction in nominal value through the distribution of shares in the fund will transform EIC Electricity SA into an investment company specialized in private equity investments. The company has a net asset value of CHF 28 million. The Board of EIC Electricity SA plans to announce the future strategy of the company in the course of July. First trading day of the reduced company will be on June 20. Shares of the EIC Energy Utility Fund can be redeemed at any time at net asset value. AIG Private Bank Ltd. is acting as custodian bank and paying agent and EIC Partners AG is providing the asset management for the fund.
EIC Electricity is listed on the SWX Swiss Exchange and on the Frankfurt Securities Exchange (Bloomberg: EIC SW Equity / EIV GR Equity). The company is specialized in investments in power and heat generation, transmission, trading and distribution.
For further inquiries please contact: Dominique Candrian, EIC Partners AG, Phone: +41 43 844 10 02.
end of announcement euro adhoc 18.06.2003
Further inquiry note:
Mr Dominique Candrian, +41-43-844 10 02
Branche: Electricity Production & Distribution
ISIN: CH0007162958
WKN: 940179
Index: Investment Index (IGSP)
Börsen: Frankfurter Wertpapierbörse / official dealing
SWX Swiss Exchange / official dealing